TomTom Wins Deal to provide Volvo vehicles With Maps, information

TomTom , the Dutch navigation corporation, said on Wednesday it had received a settlement to provide Volvo cars with actual-time maps and traffic records for its cars.

phrases were no longer disclosed, however the contract is a major win for TomTom, which competes with Google Maps and here, the previous Nokia unit now owned by way of Audi, BMW and Daimler.

TomTom, as soon as regarded ordinarily for dashboard-established GPS systems, has gained a string of contracts for its mapping technology, which it believes will play an vital function as automobile riding turns into increasingly more automated.

different TomTom clients include Volkswagen, Uber and Apple.

TomTom’s stocks are down extra than 30 percentage to this point this 12 months, declining sharply for the duration of the January marketplace promote-off and once more in February after issuing a forecast for 5 percent income growth in 2016 that fell short of market expectations.